Co-working space provider IndiQube has raised $15 million in a new funding round led by WestBridge Capital. The round also saw participation by Ashish Gupta, co-founder of Helion Ventures, who serves on the advisory board of the company.
The funds from this round will be used to strengthen the company’s execution capabilities and fund the company’s aggressive expansion plans across Bangalore, Pune, Hyderabad, Chennai, Mumbai and NCR.
“We are now very excited to have WestBridge Crossover Fund, one of the leading PE investors in India, partner with us to help build out this vision for work spaces of the future,” said co-founder and chairman, IndiQube, Rishi Das.
Founded in 2015, IndiQube is one of the key players in the managed smart workspaces segment. It has 25 office spaces strategically located at prime locations with over 1.4 Million sq. ft. of workspace in Bangalore. By the end of 2018, the startup plans to cross 2 Mn sq ft of cumulative workspaces across the country.
Focused on serving all the real-estate related needs of their clients, IndiQube creates a hassle-free environment enabling them to focus on their core business.
“We are very pleased to partner with Rishi Das, Meghna Agarwal and the management team at IndiQube. Managed smart workspaces are likely to grow rapidly as the large commercial real-estate market in India becomes more service-oriented and we believe that IndiQube, with its strong leadership team and customer focus, is likely to become a leader in the segment,” said WestBridge Capital, Sandeep Singhal.
IndiQube focuses on improving the customer experience for its 14K members in order to establish itself as a partner in growth for its clientele by offering business scalability and agility. Companies like Levi’s, Red Bus, Bluestone, FreshMenu, and Scripbox have their offices in IndiQube’s spaces.
In the co-working segment, IndiQube competes with other co-working companies such as 91Springboard, BHIVE Workplace, Innov8, Awfis and global player WeWork.